₦airaland Forum

The Chinese government has revealed plans to forgive 23 interest-free loans to 17 African countries.

 

China also revealed its intention to provide food assistance to struggling nations.

 

The Chinese Foreign Minister, Wang Yi, disclosed the plans in a post on the ministry’s website.

The Minister failed to specify which countries owed the money or the amount of the loans.

“China will waive the 23 interest-free loans for 17 African countries that had matured by the end of 2021,” Mr Wang said at the Forum on China-Africa Cooperation, according to a statement.
 

He pledged that China would continue actively supporting and participating in the construction of major infrastructure projects in Africa through financing, investment and assistance.

“We will also continue to increase imports from Africa, support the greater development of Africa’s agricultural and manufacturing sectors, and expand co-operation in emerging industries such as the digital economy, health, green and low-carbon sectors.”

“What Africa wishes for is a favourable and amicable cooperation environment, not the zero-sum Cold War mentality,” Wang said, according to the post.

Since the Forum on China-Africa Cooperation took place in Senegal in November 2021, Beijing has delivered $3 billion of $10 billion of credit facilities pledged to African financial institutions, Wang said in the speech.

In addition, this year, China has agreed to tariff-free entry to 98% of exports from 12 African countries and has provided emergency food assistance to Djibouti, Ethiopia, Somalia and Eritrea, he said.

“So far this year, China has signed exchange of letters with 12 African countries on zero tariff for 98% of their export items to China. We have provided emergency food assistance to Djibouti, Ethiopia, Somalia, and Eritrea. More African agricultural produce has reached the Chinese market through the green lanes,” he added.



https://leadership.ng/china-to-forgive-loans-to-17-african-countries/

This will make Buhari to go borrow again

China dey forgive?

Please CHINA, forgive Naija loan ooooo.

But wait ooooo, our loans were forgiven during Obasanjo's government. Over 16 years later we have borrowed like crazy and currently owes billions of dollars. Does this make sense ?

Africa the dumping ground for all things.....

Viz007:
But wait ooooo, our loans were forgiven during Obasanjo's government. Over 16 years later we have borrowed like crazy and currently owes billions of dollars. Does this make sense ?

That's Africa for you. Maybe We need to be recolonised because the black man finds it hard to govern himself.

I have always maintained that China and Russia are the future for Africa but extremely brainwashed Africans can't see beyond their noses. All we need to do is to skillfully caliberate our relationship with these super powers in a way that it becomes a win win for all parties. The moment for African countries to get loser with China is now! China has her flaws but there are no friendlier big power to Africa than China and Russia. They have the technology, they have the money, they still have a generation of people in their country who went through the harrowing effects of Western neocolonialism and imperialism. Essentially, the Chinese can easily feel the pains of these struggling African countries. They perfectly understand the games being played by the highly destructive West here. Every single trick being used by the West to undermine developing countries around the world, including in Africa, had been used on the Chinese by the West back in the days.

The Chinese understand the negative publicity that comes with these bad loans and are prepared to cut their losses and make up from elsewhere, maybe through trade. Compare this stand on her INTEREST FREE loans with what the Western shylocks are doing in Africa with their Evil IMF and the socalled World Bank! As it stands today, Nigeria for instance is using every single cash earned from Oil and gas to pay for just INTERESTS (not the main loan ooo) of the loans that were accumulated overtime by different incompetent governments imposed by tge same western countries on different African countries. During elections in Africa, Western neocolonialist nations band their resources together to impose all sorts of political bimbos and administrative buffoons like Buhari et all as president, who will in turn mortgage the future of their countries by borrowing nonstop from western financial houses, as paybacks for the odious support. This way, the total earnings from the mineral resources of these African states go directly into the coffers of the already stupendously rich Western nations.

It's Evil and must be confronted..

When will the rest of the world stop carrying African countries like babies?

Nigeria has been together for more than 100 years with nothing to show for it.

African leaders need to see leadership beyond enriching themselves and understand the way the rest of the world sees us.

Viz007:
But wait ooooo, our loans were forgiven during Obasanjo's government. Over 16 years later we have borrowed like crazy and currently owes billions of dollars. Does this make sense ?

Our loans were not really "forgiven" during Obasanjo regime.On the surface, that was what it was made to look like. But if you consider the amount paid by the Obasanjo government and the billions already paid over the years for loans given to wayward and unelected military governments by the West, you will notice that Nigeria paid the money in full a hundred times. And yes, When Obama and Cameron were virulently campaigning to force one Buhari on us some years back while some inebriated Nigerians motivated by ethnic hate cheered on, they were doing so because they know that they will be repaid through such means as getting Nigeria highly indebted to the West yet again.. When you are highly indebted to certain groupings in such alarming magnitude as Nigeria is to the Western run IMF and the world bank, you basically have concessioned off your right as a nation to be very empathic in making serious geopolitical calls , both in international politics and trade. Economic terrorism, that's what the West is doing here with their wayward involvement in our local politics.

Africa don bcom d new virgin in town wey even China dey chase. By the time they gain access to dat ur tiny hole, you'll then know all dis while dem jus wan change ur nam to new who.re in town.